Oceaneering Announces Swordfish Umbilical Contract

May 3, 2004 – Houston Texas – Oceaneering International, Inc. (NYSE:OII) announced that Oceaneering Multiflex has been awarded a contract with a value of approximately $8 million by Mariner Energy to provide umbilicals for the Swordfish field. The order is for two lengths of high-pressure, steel tube umbilical totaling 14.5 miles to be delivered for installation during the fourth quarter 2004.

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